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Subaru cuts annual profit outlook on strength of yen, typhoon impact

TOKYO — Subaru lowered its annual profit forecast on expectations of a stronger yen and the impact on production from a typhoon last month, driving its shares down as much as 4.5%. Japan's smallest major automaker, one fifth of which is owned by top-ranked Toyota, cut its forecast for operating profit to 220 billion yen ($2 billion) for the year ending March 2020, from a previous forecast of 260 billion yen. Subaru revised its forecast for the yen to average 107 versus the dollar over the period, from 110 previously. A stronger currency eats into profits because cars exported from Japan become more expensive and the value of earnings made overseas decreases. The United States is Subaru's biggest market, accounting for about 60% of overall sales. Typhoon Hagibis forced Subaru to halt production at its factories in Gumna, north of Tokyo, for more than a week in October due to supply chain disruptions. The stoppage, which lasted until Oct. 25, resulted in lost production of 11,000 vehicles, Chief Executive Officer Tomomi Nakamura told a briefing in Tokyo on Wednesday. Hagibis was the worst typhoon to hit Japan in decades, leaving at least 80 people dead, according to national broadcaster NHK. "We have restarted production, but we couldn't return to full capacity immediately," Nakamura said. "Some of our suppliers' factories were completely submerged." Subaru also said vehicle sales rose nearly 20% in the first half of the fiscal year compared with a year earlier, driven almost entirely by an improvement in the United States amid strong demand for the Forester SUV crossover. Subaru shares were down 1% at 3,102 yen by 0440 GMT, after touching a low of 2,995.5 yen earlier.

US Army tests Subaru-powered hybrid truck

The military has been studying the implementation of alternative drivetrains for years, a tiny sampling of which includes the diesel-electric hybrid technical hauler and L-ATV from Oshkosh Defense and the Aggressor from Quantum Technologies. There was also ADA Technologies' work with ultracapitors, General Motors' focus on fuel cells and the roll out of electric motorcycles for Special Forces. In the Ultra Light Vehicle (ULV) prototype vehicle pictured above, we have the latest developments in the Department of Defense's hybrid interest combined with a need to develop a lightweight replacement for the AM General Humvee.
In 2010 the Office of the Secretary of Defense put the Army's Tank Automotive Research, Development, and Engineering Center (TARDEC) in charge of developing a personnel carrier that could "balance payload, performance and protection," and do so without exorbitant cost. Armored Humvees can weigh more than seven tons, and while the ULV is just under 14,000 pounds, the new vehicle can do a lot more with its weight.
The Subaru turbodiesel under the hood puts out 175 horsepower and 260 pound-feet of torque. That's not much for pulling 13,916 pounds, so it's assisted by two Remy 410HVH HT electric motors each capable of adding 268 continuous hp and 369 peak hp, along with 844 lb-ft of continuous torque or 1,221 ft-lbs at peak. They're only limited by the 14.2 kWh lithium-ion battery rated at 65 kW of continuous power and 180 kW of peak power, but still, TARDEC says the ULV can do 21 miles on electric power and on the flats has a combined range of 337 miles at 35 mph.

Subaru to stop building Camry for Toyota in the US

It was back in 2007 that Subaru of Indiana Automotive, under contract from Subaru minority shareholder Toyota, built the first Toyota Camry at its plant in Lafayette, Indiana. Rumblings of the end of that contract work have been around for a while, as Subaru talked of expanding capacity to build more units and add a line for the Impreza, and Toyota talked of moving Camry production to its Georgetown, KY plant. The news was official internally last November when SIA Executive Vice President Tom Easterday told the Louisville Courier-Journal that Camry production would end. Now, Automotive News reports that both automakers have admitted publicly that the end will come in 2016.
SIA currently has a 170,000-unit capacity devoted to the home-brand Legacy and Outback models, while a $400-million expansion increases that to 300,000 units to prepare the facility for Impreza production in two years. Freeing up the 100,000 units of production devoted to the Camry means a 400,000-unit capability, which is far more than Subaru needs at the moment, but the Toyota exit will allow it to expand any way it sees fit. Subaru has said it will absorb the workers on the Camry line and no jobs will be lost, the mayor of Lafayette saying the development could change the timetable for the expansion.